ADBE - Up Nearly 30% Since the Start of June There's Still Time to Buy This Incredible Artificial Intelligence (AI) Growth Stock
2024-07-20 16:14:00 ET
Companies at the forefront of artificial intelligence innovations can see rapid swings in their share prices. Stocks can zoom higher on strong earnings, and that momentum can carry the stock for weeks or months. It's extremely tempting to wait for a pullback in the share price when that happens, but waiting could cost you.
One recent example of an AI stock that's soared higher in a short period of time is Adobe (NASDAQ: ADBE) . Shares trade 27% higher than they did at the start of June thanks to a strong earnings report, a good outlook from management, and the continued rise in the overall stock market. But even after these latest gains, investors should still consider adding the stock to their portfolios.
Adobe shares started climbing after a strong fiscal second-quarter earnings report last month. Revenue climbed 10% year over year, and adjusted earnings per share (EPS) was up 15%, ahead of analysts' expectations. What's more, management expects to generate between $4.50 and $4.55 per share in the current quarter, also ahead of expectations.
For further details see:
Up Nearly 30% Since the Start of June, There's Still Time to Buy This Incredible Artificial Intelligence (AI) Growth Stock